AdaptHealth (NASDAQ:AHCO) Trading Down 5.8% – Time to Sell?

Shares of AdaptHealth Corp. (NASDAQ:AHCO) fell 5.8% during mid-day trading on Wednesday . The stock traded as low as $9.60 and last traded at $9.53. 378,448 shares changed hands during trading, a decline of 66% from the average session volume of 1,109,735 shares. The stock had previously closed at $10.12.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AHCO shares. Robert W. Baird upped their target price on AdaptHealth from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Truist Financial upped their price target on shares of AdaptHealth from $12.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Canaccord Genuity Group raised their price objective on shares of AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Royal Bank of Canada upped their target price on shares of AdaptHealth from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Finally, UBS Group decreased their price target on AdaptHealth from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $13.80.

AdaptHealth Trading Down 6.4 %

The stock has a market cap of $1.28 billion, a P/E ratio of -5.74, a price-to-earnings-growth ratio of 1.08 and a beta of 1.30. The firm’s 50 day simple moving average is $10.02 and its two-hundred day simple moving average is $10.25. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34.

Hedge Funds Weigh In On AdaptHealth

A number of large investors have recently bought and sold shares of the business. Mackenzie Financial Corp increased its holdings in shares of AdaptHealth by 111.8% in the 4th quarter. Mackenzie Financial Corp now owns 81,583 shares of the company’s stock worth $777,000 after acquiring an additional 43,059 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in AdaptHealth by 21.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 197,901 shares of the company’s stock valued at $1,884,000 after acquiring an additional 35,431 shares during the last quarter. State of Wyoming boosted its holdings in AdaptHealth by 26.5% during the fourth quarter. State of Wyoming now owns 30,641 shares of the company’s stock worth $292,000 after buying an additional 6,418 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of AdaptHealth by 44.3% during the 4th quarter. ProShare Advisors LLC now owns 30,766 shares of the company’s stock worth $293,000 after acquiring an additional 9,450 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in AdaptHealth by 27.9% in the 4th quarter. Nuveen Asset Management LLC now owns 316,108 shares of the company’s stock worth $3,009,000 after purchasing an additional 69,050 shares in the last quarter. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Company Profile

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.